USDS was launched on the Solana network. Within 8 hours, $57 million of USDS was bridged to Solana.

PANews reported on November 20 that according to Pine Analytics, Sky Ecosystem's stablecoin USDS was officially launched on the Solana network today, and within 8 hours of the launch, $57 million of USDS was transferred to the Solana network through bridging. The initial supply surge increased the total amount of USDS on the chain by about 5%.

Currently, the number of USDS holders on Solana is 299, and the growth rate is 12 to 79 per hour. The distribution data of USDS shows that about 83% of the tokens are stored in DeFi protocols, including:

• 27.3% in Kamino Finance

• 24.3% in Orca

• 15.6% in Save Finance

• 15% in Drift Protocol

• 17.6% is stored in other wallets.

In addition, the USDS exchange transaction volume on Solana has reached 2.2 million US dollars, involving 175 wallets. It is worth noting that although Meteora AG accounts for a small proportion of the total locked volume (TVL) of USDS, it contributes to most of the exchange activities.